Virgin Australia CEO Jayne Hrdlicka.
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Former Virgin Australia boss Jayne Hrdlicka has walked away from the airline with a massive $50 million golden handshake.
The company’s annual report, released this morning, revealed the ex-chief executive was given one of the largest payouts in Australian corporate history.

Hrdlicka, who left Virgin in March, was given a cash package worth more than $20 million – including her salary, short-term incentives and longer-term bonuses – plus more than 10 million shares.

Virgin Australia CEO Jayne Hrdlicka.
Former Virgin Australia chief executive Jayne Hrdlicka has received a golden handshake worth more than $50 million. (Glenn Campbell)

Those were worth $29.7 million when the airline went public and re-listed on the ASX in late June with a share price of $2.90.

However, that price has since climbed to more than $3.25, taking the total value of Hrdlicka’s payout to more than $50 million.

She had forfeited a further 6.8 million shares by resigning earlier this year.

Neither chair Peter Warne nor current chief executive Dave Emerson mentioned Hrdlicka in their annual report statements, however a passage later in the document outlined her role in turning the company around after it had fallen into voluntary administration during the pandemic.

Hrdlicka helped turn Virgin Australia around from voluntary administration to its re-listing on the ASX. (Glenn Hunt)

“During her tenure, Jayne successfully led the group’s exit from voluntary administration, stand up of the airline following the COVID-19 pandemic and the transformation of Virgin Australia into a profitable and sustainable business,” the report states. 

“In addition, during FY25 Jayne led Virgin Australia’s deeper strategic partnership with the Qatar Airways Group, including a 25 per cent equity investment and enhanced strategic alliance.”

Hrdlicka’s payout dwarfs even that of former Qantas boss Alan Joyce, who was handed $21 million when he left the national carrier in 2023. 

Almost $10 million of that was clawed back by the Qantas board due to the reputational damage suffered by the airline, although it was revealed last week that Joyce was given one further $3.8 million payout.

Since resigning from Virgin, Hrdlicka has since been appointed as the chief executive of alcohol giant Endeavour Group, which runs the likes of Dan Murphy’s, BWS as well as a string of pubs and its own drinks brands.

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